Egyptian company Mediterranean and Africa (MEDAF) Investments announced their ambition to enter new African markets, Board member Yasser Agiba reports.
“The company is currently evaluating several investment opportunities, the details of which will be announced in due course,” said Hany Abou-El-Fotouh, Head of the Corporate Affairs Division at MEDAF Investments.
“MEDAF has recently launched its electronic payment company, which makes use of advanced financial technology. We believe that this new business line is harmonious with the country’s directions to move progressively towards digital transformation and financial inclusion,” he added, without any details on the markets the company wants to expand to.
Studies found that e-payment is a growing market on the continent, especially in the sub-Saharan part where countries such as Ghana and Nigeria are the fastest growing on the segment. In Central Africa (CEMAC) and the WAEMU area, e-payment services are also growing steadily.
Idriss Linge